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Villa Les Merlettes – MAMITA
RA
Raizers Property trading Financé
Ce projet est clôturé. L'analyse ci-dessous reflète les informations disponibles au moment de la souscription et n'a pas été mise à jour.

Villa Les Merlettes – MAMITA

Average
60
score / 100
Yield
12%/yr
Duration
24 months
Min. ticket
—
Amount raised
960 k€
Invest →
À propos

Partial refinancing of upmarket villa (130 m², 3 bedrooms, swimming pool) located in Saint-Barthelemy (Flamands sector), developed in programme of 5 new villas by MAMITA/PRUNEVAL, subsidiary of Globality group. Villa acquired under VEFA in 2022, 90% complete as at 31/03/2026, delivery planned October 2026. Simple bullet loan 960,000€ over 24 months at 12%/year, secured by 2nd rank mortgage, notarised GAPD SFIC and notarised personal guarantee from director.

Plateforme · 19.0/25
A1 · Statut réglementaire 8.0/8✓ max
  • agrément AMF licence AMF fonds propres-2023-5 obtained June 2023, prior to mandatory deadline November 2023
  • Status currently valid
A2 · Track Record 4.0/6
  • Default 3.5% → 4.5pts
  • Delay 26.29% → 3pts (15-30%)
  • Realised yield ~9% compliant with announced → 6pts
  • Score: (4.5×0.5)+(3×0.3)+(6×0.2)=4.35, rounded to 4
A3 · Rigueur de sélection 2.0/4

Selection process mentioned, platform active since 2014 with +340 operations, but selection rate not published in available data

A4 · Santé financière 3.0/4bon
  • Independent platform active since 2014 (+10 years), recognised player in Europe, no platform distress signal identified
  • No documented institutional backing
A5 · Protection investisseurs 2.0/3
  • agrément AMF licence → 4-day reflection period + mandatory continuity plan (1pt)
  • Third-party payment service provider likely for agrément AMF (1pt)
  • Secondary market not documented
Projet · 41.0/75 (44.0 brut, red flags −3)
B1 · Instrument & Structure 8.0/10bon
B1.1: 5/5 - Simple loan fixed rate clear French law
B1.2: 2/3 - Direct MAMITA borrowing well documented French law
B1.3: 1/2 - Simple bond, 2nd rank mortgage; senior debt CA Guadeloupe known
B2 · Opérateur & Track record 9.0/15
B2.1: 4/4 - Philippe CURUTCHET appointed, Kbis, photo/LinkedIn identifiable
B2.2: 3/5 - Globality Group, upmarket rehabilitation, documented experience but few quantified transactions
B2.3: 1/3 - First known transaction on Raizers
B2.4: 1/3 - Kbis clean, high MAMITA gearing (debts 3.4M€/equity 1M€ ≈ 2.5)
B3 · Garanties & Sûretés 10.0/15
B3.1: 7/9 - 2nd rank mortgage registered (1st rank CA Guadeloupe known) + notarised GAPD SFIC + personal guarantee
B3.2: 2/4 - SFIC equity and gearing not quantified in file, partial information
B3.3: 1/2 - Credit Agricole Guadeloupe 1.92M€ identified but bank details without precise residual amount
B4 · Structure financière 9.0/15
B4.1: 4/5 - Loan-to-Value (ratio prêt/valeur actif) 55% (loan+bank/sale price 5.25M€) - 40-55% marchand de biens class
B4.2: 2/4 - Partial self-financing, equity reconstituted; own portion estimated 25-35%
B4.3: 2/4 - No documented stress test but Loan-to-Value (ratio prêt/valeur actif) 55% structurally compensates
B4.4: 1/2 - Net margin not quantified; 2025 turnover 1.1M€, result 693K€ positive
B5 · Pré-commercialisation 2.0/10faible
  • Villa not presold (0%)
  • SBH very premium and liquid market but no documented buyer commitment
  • Price 40,385€/m² consistent with SBH upmarket
B6 · Permis & Maturité 4.0/5bon
  • Land executed (VEFA 2022), works 90% compliant with schedule, delivery expected October 2026
  • Permit obtained, finishing works underway
B7 · Marché & Localisation 2.0/3
  • Saint-Barthelemy: ultra-premium upmarket Caribbean property market, structural land scarcity, sustained international demand
  • Slight geopolitical/tourism uncertainty flagged by operator
Points forts
✓LTV controlled at 55% on premium Saint-Barthelemy asset with strong land scarcity.
✓Triple security: 2nd rank mortgage, notarised GAPD SFIC, notarised personal guarantee from director.
✓Works 90% complete, delivery imminent (October 2026), construction risk limited.
✓Credit Agricole Guadeloupe as senior banking partner, external validation.
✓MAMITA net result 2025 positive (693,561€), balance sheet in significant growth.
Risques identifiés
!Villa not presold: no documented buyer commitment at this stage.
!2nd rank mortgage only; CA Guadeloupe has priority on asset in case of default.
!Ultra-premium SBH market with restricted liquidity and unpredictable international buyers.
!SFIC financial strength (GAPD guarantor) not documented in file.
!Geopolitical situation may impact works and marketing (flagged by operator).
Score card
Score card — Villa Les Merlettes – MAMITA
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